Evolus, Inc. (NASDAQ:EOLS) Sees Significant Growth in Short Interest

Evolus, Inc. (NASDAQ:EOLS) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 5,250,000 shares, a growth of 10.5% from the June 30th total of 4,750,000 shares. Currently, 9.7% of the company’s shares are short sold. Based on an average daily volume of 534,300 shares, the short-interest ratio is currently 9.8 days.

Evolus Price Performance

NASDAQ:EOLS remained flat at $12.37 during trading hours on Tuesday. The company’s stock had a trading volume of 3,400 shares, compared to its average volume of 573,217. The company has a debt-to-equity ratio of 6.54, a quick ratio of 2.96 and a current ratio of 3.21. The firm’s fifty day simple moving average is $11.74 and its 200-day simple moving average is $12.61. Evolus has a 52-week low of $7.44 and a 52-week high of $15.43.

Evolus (NASDAQ:EOLS) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $59.33 million during the quarter, compared to analysts’ expectations of $58.78 million. On average, analysts forecast that Evolus will post -0.61 EPS for the current fiscal year.

Insider Activity at Evolus

In related news, insider David Moatazedi sold 155,278 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $12.92, for a total transaction of $2,006,191.76. Following the transaction, the insider now owns 533,349 shares of the company’s stock, valued at approximately $6,890,869.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider David Moatazedi sold 155,278 shares of Evolus stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $12.92, for a total value of $2,006,191.76. Following the completion of the transaction, the insider now directly owns 533,349 shares in the company, valued at $6,890,869.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandra Beaver sold 2,423 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $12.72, for a total transaction of $30,820.56. Following the sale, the chief financial officer now owns 151,778 shares in the company, valued at $1,930,616.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,895 shares of company stock worth $2,384,720. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Evolus

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in Evolus by 24.6% in the second quarter. Bank of New York Mellon Corp now owns 181,093 shares of the company’s stock valued at $1,965,000 after buying an additional 35,760 shares during the period. Assenagon Asset Management S.A. grew its stake in Evolus by 5,627.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 947,103 shares of the company’s stock valued at $10,276,000 after purchasing an additional 930,566 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of Evolus in the 1st quarter valued at approximately $4,200,000. California State Teachers Retirement System boosted its stake in shares of Evolus by 1.6% during the 1st quarter. California State Teachers Retirement System now owns 48,109 shares of the company’s stock valued at $674,000 after buying an additional 739 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Evolus by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,882 shares of the company’s stock worth $559,000 after buying an additional 1,637 shares in the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Analyst Ratings Changes

EOLS has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Evolus in a research note on Wednesday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a research note on Thursday, June 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Evolus in a research report on Tuesday, May 21st.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.